NEW YORK, Sept. 18, 2023 /PRNewswire/ — The music and video market is estimated to grow by USD 413.28 billion from 2022 to 2027, growing at a CAGR of 19.7%. The music and video market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer music and video market are Alphabet Inc., Amazon.com Inc., Apple Inc., Bharti Airtel Ltd., Block Inc., ByteDance Ltd., Deezer SA, Gamma Gaana Ltd., iHeartMedia Inc., Microsoft Corp., Netflix Inc., Reliance Industries Ltd., Sirius XM Holdings Inc., Sony Group Corp., SoundCloud Global Ltd. and Co. KG, Spotify Technology SA, Tencent Music Entertainment Group, The Walt Disney Co., Viacom18 Media Pvt. Ltd., and Vimeo.com Inc.. The report provides a full list of key companies, their strategies, and the latest developments. Download a FREE Sample before buying
- Amazon.com Inc.: The company offers music and video such as Amazon Prime Music.
- Alphabet Inc.: The company offers music and video such as YouTube Music.
- Apple Inc.: The company offers music and video such as Apple Music.
- For details on companies and their offerings – Buy a report!
By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market. 32% of the global market growth is contributed by North America. The US is the key market for music and video in North America. However, the market growth rate in North America will be slower than the growth of the market in other regions. Moreover, factors like the prevalence of smartphones and improved internet connectivity across the region drive the demand for online music and video streaming services. Also, given the growing opportunities in the North American music and video market, several new players are entering the market to expand their customer base. Hence, factors like the rising demand for OTT services for video streaming will facilitate the music and video market growth in North America over the forecast period. Download a FREE sample report to get more insights on the market share of various regions and the contribution of the segments.
- Impactful driver- Rising Internet and smartphone penetrations
- Key Trend – Integration of advanced technologies with online streaming services
- Major Challenges – The increasing threat from hacking
- By Type, the digital segment is significant during the forecast period. Technavio Research experts have provided more insights on the market share of segments – View a FREE Sample Report
- How do the major trends impact the market?
- How big is the North America market?
- How do the key drivers and challenges impact the market?
The music production software market size is estimated to grow at a CAGR of 7.47% between 2022 and 2027. The market size is forecast to increase by USD 333.24 million. This music production software market report extensively covers market segmentation by type (editing, mixing, and recording), end-user (professionals and non-professionals), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The rising number of musicians and artists is driving growth in the music production software market.
The stock video market size is estimated to grow at a CAGR of 7.65% between 2022 and 2027. The market size is forecast to increase by USD 319.3 million. This stock video market report extensively covers market segmentation by application (editorial and commercial), Image source (macro stock and microstock), license Model (RM and RF), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The benefits of using stock videos for visual content creation is the key driver driving the growth of the global stock video market.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Platform
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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Originally published at https://www.prnewswire.com/news-releases/music-and-video-market-to-grow-by-usd-413-28-billion-from-2022-to-2027–the-market-is-fragmented-due-to-the-presence-of-prominent-companies-like-alphabet-inc-amazoncom-inc-and-apple-inc-and-many-more—technavio-301929966.html
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